The global smart display market is expected to grow
from USD 861 million in 2018 to USD 6,665 million by 2025, at a CAGR of
34.0%. The market has been segmented into 3 separate markets—smart home
displays, smart display mirrors, and smart signage. Factors such as
the success of smart speakers as the gateway to smart home gadgets,
availability of multiple voice assistants, and implementation of AI in
smart home devices and increasing demand for IoT-enabled smart
appliances are driving the global smart home display market. Factors
such as new and innovative features offered by smart mirrors,
transition from traditional stores to smart stores in the retail
industry, and increasing demand for smart display mirrors in the
automotive industry are driving the global smart display mirror market.
Factors such as increasing demand for context-aware signage and
customer data analysis to enable AI-based smart signage are driving the
smart signage market.
Smart displays are intelligent
solutions that can be controlled through simple voice commands, remote
devices, or with the help of IoT connectivity and artificial
intelligence. Smart displays are referred to as emerging display
applications where manufacturers add interactive and advanced control
features to the display devices. This offers new growth opportunities
for display panel manufacturers, technology developers, signage solution
providers, and OEMs. These devices are emerging use cases of displays
and have the potential to revolutionize several applications including
home, signage, automotive, and other industries.
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Smart display makers focus on product launches,
expansion, and technology agreements to enter into new segments. Amazon
launched Echo Show, a smart speaker with display and Alexa voice
assistant. Google and Lenovo commercialized the first Google
Assistant-powered smart display, which is one of the main product
launches in the smart display market. In the automotive smart display
mirror market, companies such as Gentex and Magna are focusing on the
expansion of facilities. Magna opened a new facility in Slovakia that
supplies to 80 different customer locations, and Gentex expanded its
facility in Erlenbach, Germany, by 50,000 ft2.
Amazon
Amazon generates revenues from the sales of
electronics and other general merchandise through its e-commerce
platform. This reflects the company’s geographic reach and distribution
channels. In the smart display market, the company relies on its
marketing strategy to increase its market share for Amazon Echo Show.
The company is known for its service and product reliability, which is
an advantage going forward in the smart display market. With the success
of its smart speakers—Echo Series, the company expects high growth from
Echo Show due to scope for wider acceptability considering the
interoperability with other display devices present in the market.
The product offered by the company in the smart
display market is Amazon Echo Show with Alexa voice assistant. Alexa is a
voice assistant developed by Amazon. More than 30,000 skills are
available for Alexa from outside developers, and customers can control
more than 4,000 smart home devices from 1,200 unique brands with Alexa.
Alexa’s spoken language understanding has been improved by more than 25%
over the last 12 months through enhancements in Alexa’s machine
learning components and the use of semi-supervised learning techniques.
With improvement in language understanding, the company is able to serve
customers in countries such as India and Japan.
Google has been striving to gain a competitive
advantage in the smart display market through various inorganic
strategies such as strategic investment and partnership. The company is
investing in its Google Assistant platform, which is used in various
smart home, consumer, and retail applications.
Looking at the growth in the smart speaker market,
the company partnered with Lenovo, LG, JBL, and Sony to fully launch the
capabilities of Google assistant platform and commercialize smart
displays for home applications. Google also launched an in-house
developed smart display operating on Google Assistant in 2018.
Samsung Electronics
Samsung has a strong presence worldwide and offers
smart display solutions for various industries such as retail,
corporate, entertainment, hospitality, transportation, and education.
The company has a strong financial background and invests large amounts
in R&D activities. Samsung has a higher R&D budget than
competitors, having invested about 7.0% of its total revenue in R&D
as of 2017. Samsung has enhanced its smart signage product portfolio by
developing all-in-one software solutions that cover the full range of
customer needs, including content creation and scheduling, interactive
e-board presentations, and in-house hotel media management. Samsung
continues to maintain its position through its state-of-the-art
technologies that suit a wide range of business needs, including
voice-controlled displays and smart signage solutions.
The smart display (voice-controlled display) is
manufactured by one of its subsidiaries, JBL (part of Harman Division),
and is named as JBL Link View. In March 2017, the company acquired
Harman, which designs, and engineers connected products and solutions
for automakers, consumers, and enterprises worldwide, including
connected car systems, audio and visual products, enterprise automation
solutions, and connected services. This acquisition strengthens
Samsung’s presence in automotive, home, and consumer electronics
segments.
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